SoftBank to look for IPO option
Fund will turn into public company
The Japanese conglomerate SoftBank is thinking of an IPO for its technology investment fund Vision Fund. That writes the American newspaper The Wall Street Journal based on insiders. That would only happen if that fund, with a size of 100 billion dollars, was fully invested. That would be at the earliest this fall.
By issuing shares in the fund, which among other things has a substantial interest in taxi app Uber, SoftBank wants to raise money for a new investment fund. That should be just as big or even bigger than the Vision Fund.
SoftBank would like to invest 50 billion dollars in cash or other assets there. The Japanese company also talks to banks and Oman about further investments.
A spokesperson for SoftBank did not want to respond to the news item. However, chief Masayoshi Son said in an interview with Bloomberg Businessweek last year that he wanted to set up a 100 billion dollar fund every two to three years.